197 N Main St Freeport, NY 11520

Property Details for 197 N Main St

Year built

1922

Construction

FRAME

Lot size

0.06 lot acres

Property size

900 SF

Property type

Retail space

APN

55-261-00-0039

APU

55261000039

Description

This exceptional Freeport, NY retail property presents a unique investment opportunity. Located at 197 N Main St, this fully occupied building boasts two strong tenants: a restaurant and a bakery, ensuring consistent cash flow. The restaurant operates under a newly signed 5-year lease, providing immediate and predictable income. The bakery has committed to a long-term 10-year lease, offering further stability and security for the investor. This is a truly passive investment, as the landlord's responsibilities encompass all property taxes, insurance, water expenses, and crucial structural repairs, including roof maintenance. The property itself sits on a conveniently sized 0.06-acre lot (2,400 square feet), offering ample space. Adding to the property's value is a substantial 900-square-foot basement, providing significant storage or potential for expansion, and a 900-square-foot yard. The asking price for this turnkey investment is $549,000, representing a compelling return on investment given the long-term leases and minimal landlord responsibilities. This is an ideal opportunity for investors seeking a low-maintenance, high-yield property in a desirable location. The property's strong tenant occupancy and long-term lease agreements minimize risk and maximize potential for passive income generation. Don't miss this chance to acquire a stable and profitable retail investment in the thriving Freeport market.